Financing in Saint Paul>Question Details

Joey Torkild…, Real Estate Pro in Vadnais Heights, MN

Does anyone have any good lenders that will borrow to people with less than perfect credit?

Asked by Joey Torkildson, Vadnais Heights, MN Mon Aug 5, 2013

Just looking for some different lending options for clients who don't have perfect credit.

Help the community by answering this question:


if you can't get a lender to finance you try contract for deed and then refinance the home. here you go for all the latest cd properties
0 votes Thank Flag Link Fri Mar 14, 2014
Bill Boldenow

Purchase Manager / Loan Officer

NMLS# 31974

Cascade Mortgage

2801 Hennepin Ave S

Minneapolis, MN 55408

O: 612-252-3347

C: 612-387-4745

F: 866-365-5065

0 votes Thank Flag Link Thu Dec 5, 2013
Through its new program, Back to Work—Extenuating Circumstances, the waiting period for most borrowers is now just 12 months instead of the typical three, seven or 10 years.

Borrowers must have experienced what the FHA calls “an economic event” that resulted in loss of employment, loss of income, or a combination of both that reduced their household income by 20 percent or more for a period of six months or more.
Borrowers must be able to demonstrate that they have fully recovered from the event. If they went into foreclosure due to losing a job, for example, they must be able to prove that they are now employed.…
0 votes Thank Flag Link Sat Nov 30, 2013
That depends on your definition of less than perfect. I can go down to a credit score of 620 on FHA products, and I have non-profit credit counselors who can help for free if the borrower is below less than perfect credit.
0 votes Thank Flag Link Tue Aug 13, 2013
Your best bet is finding a local investor to finance these deals short term.
0 votes Thank Flag Link Thu Aug 8, 2013
I have had smooth transactions with Rob Vesters of American Mortgage & Equity Consultants

Rob Vesters,

Low Cost Division Leader AMEC

Cell # 612-six69-7777

NMLS ID# 285019

Fax 651-two03-3523

He gets the job done, quick response time too.
0 votes Thank Flag Link Mon Aug 5, 2013
Moving forward your time may be better spent looking for clients with satisfactory credit. If you think it is tough now just wait until 1/11/14. Good luck,

Jim Simms
NMLS # 6395
Financing Kentucky One Home at a Time
I answer questions about financing real estate based on my decades of experience dealing with mortgage underwriters. I do not offer legal or tax advice, if you need answers from an attorney or CPA find one knowledgeable in your local market.
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0 votes Thank Flag Link Mon Aug 5, 2013
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